The second strongest cryptocurrency, like the rest of the market, does not survive the best period. ETH corrects below $ 2,000. This situation also significantly affected Ethereum’s profitability.
Ethereum’s profitability is declining
Ethereum’s value has fallen below an important level $ 2,000. Such a decline will, of course, naturally also affect profitability. And the result? The profits of the Hodlers, who hold ETH in their wallets, thus reached 2-year minimum.
The latest portal data IntoTheBlock namely, they clearly show that the percentage of profitable wallets with ETH has fallen sharply. ITis the largest decline in the last 6 months. It is currently in profit only 56% all ETH investors. 43% of investors are at a loss, while only 1% of investors bought ETH tokens at the current price.
This latest information is also confirmed by an analysis of a well-known company Glassnode, although with slight deviations. The data aggregation tool shows that the number of profitable investors in Ethereum is at the level of 58%. Remarkably, such a negative situation last took place almost 2 years ago, in July 2020.
Smaller intents are increasing
Despite the price drop, the number of investors who hold 0.01 ETH, has reached a new all-time high, namely 22 874 566 addresses.
📈 #Ethereum $ETH Number of Addresses Holding 0.01+ Coins just reached an ATH of 22,874,566
— glassnode alerts (@glassnodealerts) May 27, 2022
View metric:https://t.co/XXb0u19ouH pic.twitter.com/gYKCAAlgcZ
In the first two quarters of 2022, several maximums were reached. The interest of smaller users is certainly positive, but not strong enough to significantly affect the price of ETH.
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